The USDA's latest Grain Stocks report showed that soybeans stored in all positions on June 1, 2012 totaled 667 million bushels, up 8 percent from June 1, 2011.

On-farm stocks totaled 179 million bushels, down 18 percent from a year ago. Off-farm stocks, at 488 million bushels, are up 22 percent from a year ago. Indicated disappearance for the March - May 2012 quarter totaled 707 million bushels, up 12 percent from the same period a year earlier.